3 item(s) were returned.
In January, Pacific Gas and Electric (PG&E), California’s largest utility, declared and subsequently filed for bankruptcy as a result of incurring as much as $30 billion in potential liabilities from transmission-caused wildfires in 2017 and 2018. The utility faces over 1,000 lawsuits and may be unable to completely handle its liabilities, possibly requiring significant state intervention. This raises critical questions about utility operations and business, and what policies are necessary to assess liability in an era of growing climate risks. Liability for each fire is determined by California’s Department of Forestry and Fire Prevention on a case-by-case basis. Under California’s… [more]View Discussion
Crude oil prices have dominated headlines and industry attention over the past year. In 2014 and continuing in 2015, the Organization of the Petroleum Exporting Countries (OPEC) agreed to unconstrained output for it 12 member countries, resulting in a dramatic increase in global oil supply. Meanwhile, China and Europe’s demand for oil has remained relatively steady. In addition, U.S. domestic production nearly doubled since 2008, decreasing domestic imports and leaving more oil on the global market. As a result, oil prices fell from $90 per barrel in 2014 to $46 per barrel today and projections indicate prices between $30 and $60 per barrel… [more]View Discussion
Vice President, Research & Policy Analysis and Chief Economist
America's Natural Gas Alliance
The Obama administration recently announced forthcoming standards for methane emissions from new and modified oil and gas production sources, despite saying “voluntary efforts to reduce emissions in a comprehensive and transparent manner hold the potential to realize significant reductions in a quick, flexible, cost-effective way.” The natural gas industry has already dramatically reduced methane emissions even as production and use have soared. New regulations will take too much time and yield too few benefits, compared with a collaborative approach. Because methane is the product we sell there is great motivation to capture as much as possible. Innovations have led to… [more]View Discussion